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| The Royal Palm Office Building, 250 Royal Palm Way, Palm Beach, FL |
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| Ike Ojala |
MIAMI, FL –– Holliday
Fenoglio Fowler, L.P. (HFF) announced it has closed the $16.75 million sale of The Royal Palm, a three-story,
23,362-square-foot, boutique office building in Palm Beach, Florida.
HFF represented the
seller, Ivy Realty, in the transaction, and procured the buyer, EPIC. The property was sold free and clear of
existing debt.
The Royal Palm is situated
at 250 Royal Palm Way along “Bankers Row” just one mile from downtown West Palm
Beach.
This location is home to dozens of top wealth
management companies, banks and private equity funds, among others. Extensively renovated in 2012, The Royal Palm
is 88 percent leased to a diversified tenant roster led by Deutsche Bank and
Northern Trust.
Property amenities include a two-level,
79-space parking garage and seasonal valet and doorman services.
The HFF investment sales
team representing the seller was led by Ike
Ojala, Hermen Rodriguez and Jorge Portela.
“250 Royal Palm received
broad investor interest from institutions and private investors alike, thanks
to its marquis rent roll, Bankers’ Row location, generous structured on-site
parking and recent complete renovation expertly done by Ivy,” said Ojala.
For a complete
copy of the company’s news release, please contact:
Kristen M. Murphy
Director, Marketing
HFF | One Post Office
Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 |
Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com
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